COLOGNE (Dow Jones) – The family of entrepreneurs to Merckle owned Assets Holding GmbH (VEM) is, despite the multi-billion dollar revenues from the sale of ratiopharm obviously not at the Relief of their pharmaceutical distributor Phoenix participate. The VEM is through the EUR 3.6 billion sale of heavy ratiopharm Although completely debt free. "To further debt relief from Phoenix VEM but will not contribute can, "said the sales process by conducting ratiopharm Trustee Hans-Joachim Ziems on Thursday in Cologne.
Phoenix debt burden is according to press reports at 4 billion euros. Net debt amounts to about the 6-times the EBITDA, such as Dow Jones Newswires had learned from financial circles. As to the beginning next year, a solution should be found in order of come down this high level, was a partial sale of individual Phoenix-available parts, it was from another person.
By Eyk Henning, Dow Jones Newswires, +49 (0) 69 29725 108, eyk.henning @ dowjones.com DJG / eyh / jhe Visit our website http://www.dowjones.de
(END) Dow Jones Newswires
March 18, 2010 11:20 ET (15:20 GMT)
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